I agree with you for the most part,
Sticky. I'm watching the coverage on CBC television right now. I think if anything will bring down the government, it will be a combination of issues: Tax cuts in addition to such things as Arctic sovereignty, extended/increased Afghanistan promises, etc., etc. This cannot work without running a deficit or drastically cutting other programs. No other party besides the Tories are ready to go there.
Whether the government falls will depend on how extreme the Liberals view the Tory agenda when it comes down to the numbers.
My hoped worst-case scenario: Early election, another Tory minority government. They need to be kept on a short leash.
Snowy, I think you should focus on how much Americans care for their own politics.
If anything, though, do enjoy watching how the parliamentary system works. I feel somewhat satisfied with the government system we have, especially when I see what goes on in the United States.